The ETP offers physically backed exposure to bitcoin and gold in a single investment vehicle.
Strategy ($MSTR) Just Spent $1.25 Billion On 13,627 Bitcoin
Strategy added to its bitcoin treasury for a third straight week, acquiring 13,627 BTC for roughly $1.25 billion at an average price of $91,519 per coin, according to an SEC filing dated January 12.
The purchases were made between January 5 and January 11 and funded through the company’s at-the-market offering program, which included sales of Class A common stock (MSTR) and its 10.00% Series A perpetual preferred stock, Stretch (STRC).
The sales generated about $1.2 billion in net proceeds, with $1.1 billion coming from common stock and $119 million from preferred equity.
The latest buy brings Strategy’s total bitcoin holdings to 687,410 BTC, acquired for an aggregate cost of $51.8 billion at an average purchase price of $75,353 per bitcoin.
At current prices, the stash is worth roughly $62 billion.
Last week, Strategy disclosed another sizable bitcoin purchase, acquiring 1,286 BTC for about $116 million in a filing with the U.S. Securities and Exchange Commission.
The buys, made between late December and early January, lifted the company’s total holdings to 673,783 BTC at the time, funded through Class A share sales under its at-the-market program.
Strategy also increased its U.S. dollar reserves last week to $2.25 billion to support preferred dividends and debt obligations, while reporting an average bitcoin cost basis of roughly $75,000 per coin.
Despite bitcoin rebounding above $90,000 to start 2026, the firm recorded a $17.44 billion unrealized loss in the fourth quarter of 2025 after prices fell sharply from October highs.
Strategy’s recent MSCI drama
Over the past several months, Strategy has been at the center of attention tied to its inclusion in MSCI’s global equity indexes due to its massive Bitcoin treasury strategy.
MSCI — one of the world’s most influential index providers — launched a review in late 2025 to consider whether companies with more than ~50 % of assets in digital assets (so-called Digital Asset Treasury Companies, or DATCOs) should remain in major benchmarks like the MSCI World and MSCI USA indexes.
If excluded, passive funds tracking these indexes could be forced to sell billions of dollars of MSTR shares, with estimates suggesting up to ~$2.8 billion in outflows from MSCI-linked funds alone and even more if other providers followed suit. Analysts from JPMorgan and TD Cowen estimated that exclusion from these indices could threaten billions in additional market value on top of that.
Strategy’s stock endured some declines and heightened risk-off sentiment as markets priced in the threat of index exclusion, with its share price dropping sharply in late 2025 amid these concerns.
Company leadership, including Michael Saylor, publicly defended its positioning as a legitimate operating company rather than a passive fund, engaging with MSCI during the consultation and stressing its enterprise operations alongside Bitcoin holdings.
In a statement on X, Saylor said that the company is “not a fund, not a trust, and not a holding company.” He described the firm as a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital.
In early January 2026, MSCI announced it would not implement proposed exclusions of DATCOs from its indexes at this time, effectively postponing any removal for the upcoming February 2026 review. This decision was widely interpreted as short-term relief for Strategy — lifting some selling pressure and leading to a 4 %–6 % rise in MSTR stock as investors welcomed the reprieve.
However, MSCI also signaled a broader consultation on how to classify non-operating companies, indicating that similar debates could resurface later in 2026.
Despite all this buying, the price of bitcoin has been little-changed over the last couple of months. Bitcoin has bounced around the $90,000 range and is currently trading at $90,555.
Samourai Letter #1: Notes From The Inside
This letter is being syndicated from The Rage. It was originally posted here.
Hello Reader.
I am writing to you from the FPC Morgantown in West Virginia. I surrendered myself on December 19 to begin my 60 month (5 year) sentence.
Surrendering yourself to prison is a fundamentally confusing and unnatural experience. One the one hand you are grateful to have been given a little more time with your loved ones, and more time to prepare. You thankfully get to avoid the dreaded “diesel therapy” (This is when the BOP sends you all across the United States by bus or plane, spending a few weeks in different prison settings, with murderers, rapists, child molesters, and the like before arriving to your final designated institution. All the while because you are unable to take classes you are not earning the possible credits needed to reduce your sentence.) and come in on “your own terms”.
On the other hand turning yourself in to be incarcerated tugs against every fundamentally primal instinct we have as human beings. The absolutely surreal memory of driving myself to the prison, my wife as my trusted passenger, riding together like we have done so many times before. We both enjoy a banal conversation about the weather that day (snow, rain, and hail all in one drive) to try and mask the fact that I am on my way to give up my liberty, to say goodbye to our family, to begin a long period of incarceration. It is perverse.
At around 1:00 PM on December 19th I pulled into the visitors parking lot. I hugged and kissed my beautiful wife for the last time and walked in the freezing wind and rain to my new home for the foreseeable future.
The officer who met me at the gate was a kindly person. He offered to let me stand in the gatehouse to avoid the blistering cold. He performed a breathalyzer and tried to make me feel at ease with some friendly and casual conversation. A second officer eventually showed up. He searched me, counted the money I brought in with me (bringing in cash was a big mistake I would soon learn), and eventually escorted me into the intake section of the facility.
On the way to the intake section the guard stated matter of factly that it would take until after Christmas for my cash to appear ‘on my books’ – meaning no phone calls and no shopping for over a week. Ah, great. Overall the intake process was quick and efficient. The Corrections Officers (CO’s) and support staff were all professional, some were cordial, some others were even friendly.
I had worn in plain grey sweat pants and a plain grey sweatshirt in the small chance that the intake COs would let me bring those items inside the prison with me. Unfortunately they did not. I was instructed to strip off the clothes until I was fully naked. The clothes were thrown into a plastic bag to be discarded or destroyed. After inspecting my cock, balls, and asshole (sorry, but it is what happened) the CO handed me an oversized pair of khaki pants, a brown shirt with suspicious bleach stains across the front, and a pair of cheap blue slip on shoes.
After getting dressed in the uniform that would scream “newbie!” to everyone who encountered me I was instructed to meet several members of staff.

First on the carousel of rubber stamps was Psychology. I mistook the psychologist for another inmate going through intake. A big man, mean looking, a long scraggly beard down to his chest. If you told me he was on the last 5 years of a 30 year bid I would have said “of course he is”. Anyway he was the psychologist I was instructed to meet. His concern was primarily my mental health and if I was suicidal or not. Like every other member of staff he was respectful and professional.
I was then instructed to meet with the Physician’s Assistant to be medically cleared. Besides a TB test and DNA collection by use of a inner cheek swab, this was as average of a medical exam as one would find in a school nurses office. Once I was through the merry-go-round of clearances I needed to obtain before entering the general population I was introduced to the first inmate I had encountered today.
Shane is an orderly who helps introduce new inmates to their new home. Average height, average build, probably early 60’s, a very friendly Irish face and rosy cheeks. Frankly, he is the perfect person for this role. Shane had collected a jacket, hat, and gloves for me. He was carrying a pillow and bed roll for me, I was carrying a large plastic bag with two spare sets of Intake uniform, two sheets, two towels, two washcloths, two boxers, two pairs of socks, a toilet paper roll, and a small plastic bag filled with basic toiletries. It was explained to me that because I was ordered to surrender on a Friday, I would not get to Laundry for a proper uniform until Monday.
So, I would stick out like a sore thumb until then. Combined with the complications of depositing money onto my account due to a Friday + Holiday surrender it really felt like another farewell gift from Judge Cote who got to turn the screw against me one final time.
Shane pointed out each building on the campus while I tried to keep up with him and retain all this information. I was to be housed in the Bates Unit, apparently this is good fortune because Alexander Unit is filled with rowdy reprobates and has no air conditioning. I will be housed within the B Wing of Bates Unit, which is apparently where they put all the newcomers and younger guys. Older guys and more experienced inmates get assigned to A Wing which is a little quieter.
As we passed every inmate, unmistakable in their khaki uniform and green jacket Shane greeted them by name, they all returned the greeting earnestly. After what felt like 12 left turns we arrived in the B wing, to bunk 25. I was introduced to my cell mate, or “celly” Mike who I was told only arrived here a week ago from a camp in Lexington.
Mike is easily 280-290 lbs so he clearly had the bottom bunk. I would take the top bunk. Trying to take in the sights, sounds, and smells, I noted that I may have been lucky to get Mike as a celly, his cell was fairly tidy, he seemed mature and respectful. I felt at ease with Mike, which is a good thing to feel when you are going to be living with someone in such close quarters. Once Shane dropped me off at bunk 25 he was off. I was left standing like a deer in the headlights.
Nearly immediately Mike was handing me some Cup-O-Noodle Chicken Soups and a water bottle. I didn’t know if this was some sort of loan that would need to be paid back or what, but as I had literally nothing but the newbie uniform I took the handout and made a note to repay him when possible.

Then from across the aisle, Dave introduced himself, – on the outside a former family doctor, on the inside a jovial older man always cracking dry sarcastic jokes – and handed me a can of Coke, some Mrs.. Field’s Chocolate Chip Cookies, some more Cup-O-Noodles and some other goodies. This procession of introductions and offering of gifts continued for nearly half an hour. It became clear these weren’t loans to be repaid but acts of kindness by gentlemen who remembered what their first night in prison was like, and who presumably were helped by someone in a way they are now passing on to me.
Eventually word had got around the camp – they call the gossip network “inmate.com” – that a new guy arrived. Soon I had visitors from other Wings in the Bates Unit.
One gentleman had an entire collection of sweat shirts and sweat pants. He sized me up and handed me a pair as well as some short sleeve and long sleeve grey shirts. Finally he looked at my feet taking note of the cheap flat slip ons that they give you during intake, asked my shoe size, I told him 12.5, after some rummaging he found a pair of sneakers size 11 and handed them to me.
He explained that when someone leaves (either to go home or a transfer to a new institution) he collects the clothing they leave behind, he washes it, and then stores it to hand out to newbies with nothing – otherwise they will be scooped up by less altruistic characters and be sold in the underground economy.
Saying our goodbyes and expressing my sincere gratitude to be able to get out of the uncomfortable temporary uniform and into something way more comfortable I met another prisoner, Omar, a very friendly former pulmonary specialist in his 70s, one of several practicing Muslims and one of several highly skilled doctors. He provided me some toiletries, a bag of instant coffee, a bag of creamer, pens, paper, and his wisdom on navigating this new environment. Very importantly he offered to show me the ropes at dinner time which would be called momentarily.
While we waited to be called for dinner time Omar introduced me to several of his friends, mostly doctors and highly educated scientists. Once dinner was called we made the 10 minute walk from Bates Unit to the “Chow Hall”, they were serving lasagna which was surprisingly good and offered in a generous portion size. It was served with a side of iceberg lettuce and boiled spinach. The lettuce was fine with the bright orange colored (and expired) “French dressing” that was offered in small packets. The boiled spinach needed salt and was quite difficult to eat.
It seemed like I had just sat down to eat when they called over the intercom that dinner was now closed. I will need to eat much quicker than I am used to.

When I returned to my bunk I met another neighbor, Hasan, a young Muslim, well groomed, fit, tidy and friendly. He introduced himself, gifted me a white cotton t-shirt and a pair of grey gym shorts. I hung around on my bunk, not really knowing what to do. I knew there would be a final count – where we need to stand up silently by our beds and be counted by guards – at 9:00PM which would then be lights out until the morning.
I frankly was very tired and wished I could go to sleep right then, but I forced myself to stay awake until after the 9:00PM count occurred. Thankfully they turned the lights off right after the count, after brushing my teeth I climbed into the bunk, ready to call it a night. No one else was on that schedule however, and the housing unit was wide awake, loud, and buzzing with activity.
I would have to get used to the noise. Eventually I fell asleep. I slept fairly well, but woke up early around 2:30 AM. Thanking God that Omar had gifted me coffee, I enjoyed a hot cup when I woke up and throughout the morning.
Over the next several days I would meet new people, learn new tactics for surviving this very alien environment, and make several new friends along the way. While not at all comfortable, it is manageable. While I rather be at home with my wife and family, there are far worse places I could have ended up. I am thankful that all the prisoners here are respectful and downright friendly. I am thankful that the staff and CO’s seem to be also be respectful provided you don’t give them a reason not to be.
This letter recounts the first day on the inside, December 19th. As I write this it is December 24th, Christmas Eve.
Tomorrow will be the 7th day I have spent in FPC Morgantown. I will be having my first visitor, my wife. I am beyond excited to see her. I will continue writing the story as it happens and as I am able.
Keonne Rodriguez
Write to Keonne:
Keonne Rodriguez
11404-511
FPC Morgantown
FEDERAL PRISON CAMP
P.O. BOX 1000
MORGANTOWN, WV 26507
Mailing Guidelines:
Please note: You can only send letters (no more than 3 pages long). No packages or other items are allowed. Books, magazines, and newspapers must be sent directly from the publisher or an online retailer like Amazon. All letters must include a full return address and sender name to be delivered.
This is a guest post by Keonne Rodriguez. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
UK Lawmakers Push Starmer to Ban Crypto Donations Amid Foreign Interference Fears
Senior Labour backbenchers are pressuring U.K. Prime Minister Keir Starmer to ban cryptocurrency donations to political parties, warning that digital assets and AI make foreign interference cheaper and harder to trace. Concerns Over Foreign Interference United Kingdom (U.K.) Prime Minister Keir Starmer faces growing pressure from senior Labour backbenchers to impose a full ban on […]
From Static Tools to Smarter Conversations: Modern AI Chatbot Platform
Most business chatbots started as simple tools. They answered a few questions, shared a link, and ended the conversation. For a while, that was enough. Customers accepted short replies and limited help because expectations were low.
That is no longer the case.
Today, customers expect answers that make sense, replies that follow context, and support that does not reset every time they ask a new question. This shift has changed what businesses need from an AI chatbot platform. It is no longer about placing a chat box on a site. It is about how conversations are handled from start to finish.
This article looks at how chatbots have changed, what businesses often overlook, and why control and clarity now matter more than flashy features.
The Gap Between Old Chatbots and Real AI Agents
Early chatbot systems were built on rules. If a user typed one phrase, the bot returned a fixed reply. These systems worked only when users followed a script.
That model created what many teams still deal with today: an AI chatbot platform that looks helpful at first but breaks down once questions become specific or layered.
Modern AI agents work differently. They read meaning, not keywords. They keep track of what was said earlier. They respond based on context, not just triggers. This change sounds small, but it defines whether a chatbot can handle real customer conversations or only basic tasks.
Businesses that still rely on static logic often see the same issues:
- Repeated questions from users
- Confusing answers when topics overlap
- Support tickets that return after chat ends
These problems are not caused by users. They are caused by tools that were never designed for real conversations.
Why No-Code Control Is Now a Requirement
As chatbots became more capable, another problem surfaced. Many systems became harder to manage. They required developers for updates, fixes, or even small changes.
This is where expectations changed.
Business teams want simple control without needing technical help. They need to update content, review replies, and manage access in one place. A free chatbot development platform often works early on, but growing usage quickly exposes its restrictions.
No-code control allows teams to:
- Update responses without submitting tickets
- Change wording after spotting confusion in chats
- Review updates before releasing them publicly
The real benefit is control. Teams that manage their bots can respond to real problems instead of waiting for scheduled updates.
Accuracy Is What Separates the Best Chatbot Experience From Noise
When people search for the best AI chatbot for business, they usually look at features, cost, or how fast it replies. Those details matter, but they do not show if the chatbot truly helps. Customers stay and ask more questions only when answers are accurate and easy to trust.
Why Speed Alone Is Not Enough
A chatbot that replies instantly but shares incorrect or inconsistent information creates more work for support teams. Customers notice when answers change or conflict, and that loss of trust is hard to recover. In many cases, these issues appear when bots are trained on outdated files or duplicate documents that were never reviewed.
What Reliable Chatbots Depend On
Reliable systems are built on discipline rather than settings. They rely on clean and current documents, clear boundaries around what the bot should answer, and a steady review of real conversations. When these foundations are missing, even advanced tools struggle to support chatbots in customer support at a level users expect.
Training Is an Ongoing Responsibility
Adjusting controls does not guarantee accurate answers. What matters is how carefully the chatbot’s content is maintained. Businesses that refresh their information regularly tend to get consistent results, while those that train their system once often see answer quality drop over time.
What Users Never See: The Operational Layer
Most articles focus on how chatbots talk. Few explain what happens behind the scenes.
Every serious system needs an operational layer. This includes chat logs, review tools, and clear ways to improve answers. Without this layer, teams guess instead of learning.
The best chatbot experience comes from steady review, not from rewriting scripts. Teams need to see what users ask, where replies fail, and which topics cause confusion.
A proper review cycle usually includes:
- Reading chat logs in sequence
- Identifying unanswered questions
- Updating Q&A or training material
- Testing changes before wide use
This work does not require developers. It requires visibility. When teams can review conversations directly, they improve quality step by step.
Measuring Chatbots Like Products, Not Campaigns
Many teams still judge chatbots using basic numbers like page views, clicks, or message totals. These figures say little about whether the chatbot is truly helping users, lowering support effort, or delivering the best chatbot experience in real use.
Why Campaign Metrics Fall Short
When chatbots are treated like marketing tools, measurement focuses on short-term activity rather than long-term performance. This view misses patterns that develop over time, such as declining response quality or repeated questions. The best support chatbots remain dependable because teams track how conversations behave as volume increases.
What Product-Level Measurement Looks Like
Strong teams review chatbots the same way they review products. They monitor total conversations within a defined period, watch response time consistency, and observe feedback signals such as thumbs up or thumbs down. Activity trends by day or region also reveal when users need help most and where pressure builds.
Turning Data Into Improvements
Metrics only matter when they guide action. Clear visibility into performance helps teams decide what needs fixing and what should scale further. Dashboards that present this information in a direct way allow teams to adjust training, refine answers, and maintain reliability as usage grows.
Where Development Still Plays a Role
Even with no-code chatbot platforms becoming easier to manage, some businesses still bring in outside help during the early stages. This is usually tied to preparation, not daily operation. Teams may need assistance organizing large document sets or defining how information should be structured before launch.
In these cases, working with an AI development companies can help reduce early mistakes. The focus stays on setup tasks such as arranging data sources, mapping workflows, or aligning internal rules so the chatbot starts with a clean foundation.
This support does not take control away from internal teams. After the chatbot goes live, most updates, training, and improvements are managed by business teams through the Dashboard. Content changes, Q&A updates, and review cycles do not need technical help.
This balance is now common for chatbots in customer support that handle large or varied audiences. Outside help supports the initial setup, while daily updates and control stay with the teams managing conversations each day.
A Practical Example of Modern Chatbot Design
GetMyAI is built around these ideas. It focuses on clear control rather than complex configuration. Teams manage agents from a single Dashboard, review conversations in Activity, and improve replies using Q&A without technical steps.
The platform supports deployment on websites, WordPress, WhatsApp, Telegram, and Slack. Each channel uses the same knowledge base, which helps maintain consistent replies.
GetMyAI also separates review from reporting. Teams check the Activity first to understand real conversations. Analytics then shows trends such as engagement rate, response time, and regional usage. This order helps teams fix issues before studying performance numbers.
For businesses looking for the best chatbot for customer support, this balance between control, visibility, and accuracy defines long-term success.
Why This Shift Is Permanent
Chatbots are no longer side tools. They are part of daily operations. As customer expectations rise, so does the need for systems that teams can manage with clarity.
An AI chatbot platform today must do more than respond. Teams need systems that let them see conversations clearly, correct issues, and maintain consistency across channels. When that control is missing, chat tools often create more problems than they solve.
The next phase of business chat is not just about better answers. It is about platforms teams can trust, review easily, and improve as needs change.
Trojan Partners with World Liberty for an End-to-End USD1 Integration
Trojan, industry-leading developers of onchain trading tools, today announced full-integration of USD1, marking the first time Solana traders can execute and settle onchain swaps with the stablecoin directly in a trading terminal.
This first-of-its-kind onchain trading terminal integration means, on Trojan, users can mitigate SOL price fluctuations in their risk profile while still being able to freely trade any listed tokens with USD1. Traders can denominate, anchor, and rebalance in a familiar dollar-based framework while maintaining full non-custodial control of their funds.
USD1 represents a major advancement for onchain markets: a transparent, composable unit of account, 1:1 backed and redeemable, that operates natively across numerous blockchains. It is the flagship product of World Liberty Financial, a company co-founded by the Trump family that aims to be the digital bridge between legacy and DeFi for the future of money.
For active traders, this means reduced volatility exposure and cleaner pricing across meme, mid-cap, and bluechip tokens. For Solana’s broader ecosystem, it signals a shift toward greater capital efficiency, standardized liquidity, and institutional-grade stability onchain.
“USD1 strengthens the long-needed bridge between stable value and decentralized execution,” noted Andri Rabetanety of Trojan. “Our integration of USD1 reinforces that foundation, bringing sharper pricing, stable settlement, and more complete onchain autonomy.”
Trojan’s move underscores its ongoing mission to refine onchain infrastructure and lead the next phase of Solana market evolution. By introducing end-to-end USD1 integration, Trojan’s users can be confident that, though the market changes, their buying power remains stable.
About Trojan
Trojan builds the tools that define onchain trading. From Solana’s most advanced terminal to automated order management and multi-tier rewards, Trojan provides infrastructure that gives traders the edge onchain.
About World Liberty Financial
World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform dedicated to empowering individuals through transparent, accessible, and secure financial solutions. Inspired by the vision of President Donald J. Trump, WLFI seeks to democratize access to DeFi by creating user-friendly tools that bring the benefits of decentralized finance to a broader audience. WLFI plans to be at the forefront of DeFi, offering an intuitive, robust platform that empowers users to participate actively in the financial future.
Source: Trojan
Submit Your Blockchain and Crypto Press Release here.
Disclaimer: This is a press release, provided by the company/ company representative. AlexaBlockchain does not endorse, guarantee, or accept responsibility for the content, accuracy, quality, advertising, products, or other materials presented in this publication. Readers are advised to conduct their own due diligence before taking any actions related to the company mentioned herein. AlexaBlockchain expressly disclaims any liability for damages or losses, whether direct or indirect, arising from or related to the use of or reliance on any content, goods, or services referenced in this press release.
Fitch Warns Bitcoin-Backed Securities Pose High Market Value Risk
Credit rating company Fitch Ratings has flagged a high degree of risk associated with Bitcoin-backed securities, a warning that may complicate the expansion of crypto-linked credit products among institutional investors.
In a Monday assessment, Fitch said Bitcoin-backed securities, financial instruments typically structured by pooling Bitcoin (BTC) or Bitcoin-linked assets and issuing debt against that collateral, carry “heightened risks” that “are consistent with speculative-grade credit profiles.”
The agency said such characteristics could place the products in speculative-grade territory, a designation associated with weaker credit quality and a higher likelihood of losses.
As one of the three major US credit rating companies, Fitch’s evaluations play an influential role in how banks, asset managers and other institutions assess emerging financial instruments, particularly those tied to volatile asset classes.
Fitch pointed to the “inherent” price volatility of Bitcoin as well as counterparty risks embedded in these structures.
The agency also referenced the wave of crypto lender failures during the 2022–2023 downturn, likely a reference to BlockFi and Celsius, as cautionary examples of how quickly collateral-backed models can unravel during periods of market stress.
“Bitcoin’s price volatility is a main risk consideration,” Fitch said, warning that breaches of coverage levels could rapidly erode collateral value and crystallize losses.
Coverage levels refer to the ratio of Bitcoin collateral to the amount of debt issued against it. Sharp price declines can cause that ratio to fall below required thresholds, triggering margin calls and forced liquidations.
The latest assessment follows an earlier warning from Fitch last month, when the agency cautioned US banks about elevated risks tied to significant digital asset exposure. At the time, Fitch cited potential reputational, liquidity and compliance risks for banks that are actively engaged in crypto-related activities.
Related: Wall Street’s crypto debate is over as banks go all-in on BTC, stablecoins, tokenized cash
Bitcoin’s growing role in corporate credit, and where Fitch draws the line
Bitcoin has increasingly become central to the credit profiles of public companies with large digital asset holdings, particularly those issuing convertible notes or secured debt.
A prominent example is Strategy, led by Michael Saylor, which has amassed nearly 688,000 Bitcoin.
The company has financed this strategy through repeated capital raises, including convertible notes, secured debt and equity issuances, to expand its Bitcoin exposure. As a result, Strategy’s balance sheet and credit profile are now correlated with movements in Bitcoin’s market price.
Fitch’s warning, however, appears to focus more narrowly on credit and securitized instruments where repayment is directly dependent on the value of underlying collateral. The assessment does not reference spot Bitcoin exchange-traded funds, which are structured as equity-like investment vehicles rather than credit products.
In fact, Fitch noted that ETF adoption could contribute to “a more diverse holder base,” a development that may “potentially dampen” Bitcoin’s price volatility during periods of market stress.

Related: Coinbase ‘cautiously optimistic’ on 2026 as crypto nears institutional inflection point
VanEck Predicts Risk-On Q1 2026 With Improved Fiscal Clarity
Global investment management firm VanEck is confident that the first three months of the year will be a risk-on environment for investors, citing clarity around fiscal policy, monetary direction, and major investment themes.
“As we move into 2026, markets are operating in an environment with something investors have not had in years: visibility,” stated VanEck in a Q1 2026 Outlook on Tuesday.
However, regarding Bitcoin (BTC), it stated that the typical four-year cycle “broke in 2025, complicating short-term signals.”
“This divergence supports a more cautious near-term outlook over the next 3–6 months,” it stated, noting that this outlook was not unanimous, with some company executives “remaining more constructive on the immediate cycle.”
A risk-on outlook is generally good news for riskier investments such as AI and tech stocks, and crypto. However, Bitcoin has decoupled from stock and gold markets in recent months following the massive deleveraging event in October.
Fewer fiscal and monetary surprises ahead
“One of the most important developments for markets is the gradual improvement in the US fiscal picture,” VanEck stated.
“While deficits remain elevated, they are shrinking as a percentage of GDP from the historic highs reached during the COVID period,” they continued to explain.
“This fiscal stabilization is helping anchor longer-term interest rates and reduce tail risks.”
Related: What the Fed’s divided 2026 outlook means for Bitcoin and crypto
The VanEck outlook is more medium-term than focused on immediate events, Justin d’Anethan, head of research at Arctic Digital, told Cointelegraph.
“One can’t help but look at price action, which often is its own narrative as confirmation,” he said, adding:
“With BTC rising in a low-leverage environment, it feels like a lot of last year’s fluff was taken out, leaving bulls a tad more realistic, and bears tamed in their apocalyptic prophecies. We see a lot of indicators in deep oversold territory, edging to get back up.”
“While conflict with the US administration and the Fed might not help things, geopolitical uncertainty and a broadly bullish sentiment on risk assets seem to bode well for crypto, as it plays catch-up,” he added.
Market trajectory for H1 2026 is relatively clear
Meanwhile, HashKey Group senior researcher Tim Sun told Cointelegraph that following the fluctuations and adjustments in late 2025, the market trajectory for the first half of 2026 has become relatively clear.
“With the US midterm elections approaching, both fiscal and financial conditions are expected to further favor risk assets,” he said.
“Fiscal stimulus, accommodative monetary conditions, and favorable regulatory developments collectively form a classic risk‑on macroeconomic window in the first half of 2026. In such an environment, Bitcoin and the broader crypto market stand to benefit.”
Crypto investor Will Clemente commented that “this environment is literally what Bitcoin was created for.”
“The President is coming after the Fed chair. Metals are ripping as sovereigns diversify reserves. Stocks and risk assets are at record highs. Geopolitical risk is rising.”
Analyst tips Bitcoin to go back to six figures
MN Fund founder and crypto analyst Michaël van de Poppe is confident that BTC prices will reclaim six figures before the end of January.
There has been no dip below the 21-day moving average with “buyers stepping in to accumulate Bitcoin at these regions,” he said on Monday.
“Given the fact that the markets have hung in this range for such a long time, it shows the significance of the potential breakout levels,” he stated before predicting that a clear move above $92,000 will result in $100,000 in a maximum of ten days.
BTC had tapped the $92,000 level at the time of writing early Tuesday morning in Asia after a dip to the low $90,000 area on Monday.
Magazine: One metric shows crypto is now in a bear market: Carl ‘The Moon’
Traders sell Ether, Solana, XRP rallies; Monero tops $640
Analysts suggest macroeconomic conditions and stabilizing prices could support crypto markets in the medium term, with bitcoin potentially reaching $120,000 if sentiment improves.
A16z Reveals Three Crypto Predictions for 2026
Venture capital giant Andreessen Horowitz (A16z) has unveiled three predictions on how it sees crypto going “beyond crypto” this year. $45 Billion VC Giant Eyeing Developments in Prediction Markets, Media, and the Potential for a Completely New Crypto Primitive In a blog post, A16z analysts released three crypto predictions, the first of which is that […]
